Bill to help Indianapolis Motor Speedway is in final lap

2:15 PM,
Apr. 25, 2013

Dario Franchitti in the Target Chip Ganassi Racing No. 50 race car raises his hand in victory after crossing the finish line at the 2012 Indianapolis 500, his third win in Indianapolis, at the Indianapolis Motor Speedway on May 27, 2012.

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Lawmakers are putting the final touches on a bill that would give the Indianapolis Motor Speedway $100 million of state financial assistance over the next 20 years.

Under changes that the House wanted, the money is considered a loan. In addition, $5 million annually also is available as low-interest loans to 48 other Indiana tracks and motorsports businesses.

Rep. Eric Turner, R-Cicero, said the plan being negotiated by the House and Senate - and moved now to House Bill 1544, instead of Senate Bill 91 - requires the Speedway to pay $2 million annually. With the state's annual $5 million, that ...